US fresh produce company Chiquita Brands International has announced that its acquisition of the Fresh Express unit of Performance Food Group may be delayed.
Chiquita had said it expected the deal to be closed by the end of April. It continues to target a second quarter closing of the acquisition, in accordance with its original 23 February announcement of the transaction.
Additional time is likely to be required by the company and its financial institutions to review and evaluate certain legal matters affecting Chiquita and any impact they may have on the financing for the transaction. These matters involve conduct of certain Chiquita employees which recently came to the attention of the company’s management.